Future FinTech Group Inc. (NASDAQ: FTFT) (“Future FinTech”, “FTFT” or “the Company”), a leading blockchain based e-commerce company and a service provider for financial technology, today announced that it closed the registered direct offering of 3,000,000 share of its Common Stock at a purchase price of $5.00 per share on January 13, 2021. The gross proceeds of this offering are $15,000,000. The Company issued a total of 3,000,000 shares of its Common Stock in the offering. The net proceeds from this offering will be used for growth capital and general working capital purposes.
A.G.P./Alliance Global Partners acted as the sole placement agent for the offering.
All offers were made only by means of a prospectus, including a prospectus supplement pursuant to the Company’s effective shelf registration statement and base prospectus contained therein. The shelf registration statement on Form S-3 (File No. 333-224686) relating to the offering was previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective on December 11, 2020.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, and these securities cannot be sold in any state in which this offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
For further details of this transaction, please see the Current Report on Form 8-K filed with the SEC on January 12, 2021, as amended which may be viewed at www.sec.gov.
About Future FinTech Group Inc.
Future FinTech Group Inc. (“Future FinTech”, “FTFT” or the “Company”) is a leading blockchain e-commerce company and a service provider for financial technology incorporated in Florida. The Company’s operations include a blockchain-based online shopping mall platform, Chain Cloud Mall (“CCM”), a cross-border e-commerce platform (NONOGIRL), an incubator for blockchain based application projects. The Company is also engaged in the development of blockchain based technology and services as well as financial technology services. For more information, please visit http://www.ftftex.com/.